Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Calculation of commission of a partnership firm

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

07 December 2018 Dear Sir's

A Partnership Firm have entitled a Commission on Book Profit @ 90% of First Rs. 75000/- or 100% of First Rs.50000/- whichever is more, 60% of the next Rs.75000/- and 40% of the Balance Book Profit " as per agreement made by the Partners.

Ratio of Shares are 70% & 30% accordingly.

The Firm having a Book Profit of Rs. 2,85,316/- during the year before the Partners Commission .

Would you please advice , how can we calculate the Partners Commission?

Its very much help us for accounting the same ? Waiting for your valued reply

Regards

Expert : Anonymous

Expert : Anonymous (Expert)

07 December 2018 Can You elaborate what You mean Commission...?

Querist : Anonymous

Querist : Anonymous (Querist)

08 December 2018 Sir,this is Partners Remuneration not commission.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now